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August 4, 2015

London: Wall Street Trader Sentenced to 14 Years for Rigging Libor 
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In news from London, a former UBS and Citigroup trader has been
sentenced to 14 years in jail. Tom Hayes is the first person to be
convicted by a jury of rigging Libor, the interest rate which underpins
trillions in global transactions. As he delivered the sentence, British
Judge Jeremy Cooke said, "A message needs to be sent to the world of
banking."

 

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